The percentage of loans in ACM's top customer score, 6, was 33.24%, a decrease from 35.17%, but deal's WA loan-to-value ratio was 113.83%, up from 112.72%.

Notes will be repaid through a modified sequential structure, which calls for the A-1 and M-1 through M-3 classes to receive principal on a pro-rata basis.

The markets had a muted reaction to the Federal Open Market Committee pause on raising short-term rates a week ago, Freddie Mac found.

The three senior classes should repay investors with coupons of 6.73%, 7.13% and 7.64% on classes A1, A2 and A3, while are expected to issue floating-rate notes.

But the Mortgage Bankers Association also raised the dollar volume that it predicts the purchase market will originate this year.

Philip Jefferson, a current Federal Reserve Board member, is President Biden's nominee to be vice chairman of the central bank. At a Senate hearing, he gave measured responses to questions about the potential for heightened regulation of midsize banks.

Both loan volumes and interest rates came in mostly flat, but the jumbo average ran ahead of the conforming for the second week in a row, the Mortgage Bankers Association said.

The GFORT 2023-1 series added an extra $250 million class, with notes to be priced over the three-month SOFR. Other elements, such as collateral and credit enhancement, are almost exactly alike.

Newer cars account for the highest percentage of the collateral pool over a two-year period, while FICO and proprietary credit scores are also up a few ticks.

Fee hikes at the government-sponsored enterprises are one remedy, the government-sponsored enterprise's regulator noted in its annual report to Congress.

The American Bankers Association's Economic Advisory Committee said access to loans is likely to further soften, while defaults and credit losses could increase in the second half of the year.

Partners in ABS practice also discuss how CLOs face final bridge to cross as Libor transition approaches the finish line.